By Love Wilhelmina Abanonave
Finance Minister Cassiel Ato Forson has announced that he will not continue the tax exemption policy for the One District, One Factory (1D1F) initiative, citing evidence of abuse.
According to Ato Forson, only Parliament has the authority to grant tax exemptions, and any previous exemptions granted outside this process were illegal.
“Only Parliament has the power to exempt someone from tax payments, so what was done in the past was illegal,” he said this while addressing Parliament.
His remarks were met with opposition from Minority Leader Alexander Afenyo-Markin, who argued that tax exemptions are crucial for the private sector and job creation.
Afenyo-Markin stressed that providing incentives such as tax exemptions allows companies to retain more funds and expand employment opportunities.
“Does the Finance Minister remember his days as a Minority Leader? Instead of taking notes and listening to opposing views, he is arguing and standing his ground as though he were still in opposition. He should get the argument right; he’s missing the point,” the Minority Leader stated.
He further argued, “We don’t create jobs by dismissing public sector workers and replacing them. We create jobs by providing incentives to the private sector.”
However, Ato Forson remained resolute in his decision, stating that the previous administration’s failure to approve the exemptions during its eight-year tenure is a clear indication that the policy was flawed.
